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April 30, 2021, 11:43 a.m. EDT

Warrior Met Coal's stock extends selloff, after Raymond James' downbeat call on coal producers

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By Tomi Kilgore

Shares of coal producers took a hit Friday, after Raymond James analyst Lucas Pipes said the companies are likely to be hurt by the carbon reduction initiatives that China has recently announced. Warrior Met Coal Inc.'s stock /zigman2/quotes/208793752/composite HCC -1.17% dropped 1.7% in midday trading, adding to Thursday's 6.5% tumble, as Piper downgraded metallurgical coal producer to neutral from buy, and cut his price target to $22 from $28, as "Chinese Carbonomics" could serve has a "modest headwind" to coal pricing, as he expects Chinese met coal consumption to decline. Among other coal companies Piper covers, shares of Arch Resources Inc. /zigman2/quotes/203542275/composite ARCH +2.85% slipped 0.9%, Alliance Resource Partners L.P. dropped 1.8%, Alpha Metallurgical Resources Inc. /zigman2/quotes/200251330/composite AMR +3.07% slid 7.2% and Consol Energy Inc. /zigman2/quotes/208773703/composite CEIX +0.07% shed 3.3%. The selloff comes as the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.11% slipped 0.6%.

/zigman2/quotes/208793752/composite
US : U.S.: NYSE
$ 25.40
-0.30 -1.17%
Volume: 405,974
Oct. 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.79%
Market Cap
$1.31 billion
Rev. per Employee
$558,700
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/zigman2/quotes/203542275/composite
US : U.S.: NYSE
$ 95.49
+2.65 +2.85%
Volume: 342,602
Oct. 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$1.46 billion
Rev. per Employee
$459,201
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/zigman2/quotes/200251330/composite
US : U.S.: NYSE
$ 64.47
+1.92 +3.07%
Volume: 245,289
Oct. 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.19 billion
Rev. per Employee
$435,750
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/zigman2/quotes/208773703/composite
US : U.S.: NYSE
$ 29.95
+0.02 +0.07%
Volume: 347,522
Oct. 22, 2021 4:00p
P/E Ratio
27.61
Dividend Yield
N/A
Market Cap
$1.03 billion
Rev. per Employee
$672,770
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/zigman2/quotes/210599714/realtime
US : S&P US
4,544.90
-4.88 -0.11%
Volume: 1.82B
Oct. 22, 2021 5:04p
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